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    NG.   GB00BDR05C01

NATIONAL GRID PLC

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National Grid : Britain can meet energy demand this winter, says National Grid

10/15/2020 | 07:04am EDT
A workman using a chainsaw to cut branches from trees near power cables in Logierait Scotland

LONDON (Reuters) - Britain will have enough electricity and gas supply to meet power demand this winter, even after the Brexit transition period ends, National Grid said on Thursday.

National Grid, which operates the UK power network, expects there to be sufficient generation and capacity through Britain's power links with Europe, called interconnectors, to meet demand throughout winter 2020/21.

"We expect interconnector flows to be unaffected by the end of the EU transition period ... furthermore, even in the highly unlikely event of no interconnector flows between Britain and continental Europe, we have the tools and capabilities to ensure security of supply," the grid operator said.

The so-called de-rated margin, or surplus power margin, is forecast at 4.8 gigawatts (GW), much less than the 7.8 GW forecast last winter.

The lower surplus is due to generation outages and plant closures but still within acceptable standards to ensure the system runs safely and securely and it is above levels forecast for winters 2015/16 and 2016/17.

Demand for energy on the electricity system dropped by as much as 18% earlier this year after lockdown restrictions to counter the COVID-19 pandemic but has since started to recover to normal levels.

Even if there is an increase in people working from home this winter, a reduction in commercial and office energy use should offset a demand rise, National Grid said.

Total gas demand this winter is forecast to be 50.9 billion cubic metres, comparable with last winter levels.

LNG volumes coming to Britain have increased over the past few years to 14,000 million cubic metres in 2019/20. National Grid expects volumes to be as high as that this winter as the global supply of LNG continues to exceed demand.

Domestic and European gas storage levels continue to be strong and strengthen UK security of supply in the event of high gas demand this coming winter, National Grid said.

(Reporting by Nina Chestney; Editing by David Goodman, Kirsten Donovan)

By Nina Chestney


ę Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRITISH POUND (EUR/GBP) 0.03% 0.85598 Delayed Quote.-3.84%
NATIONAL GRID PLC 0.59% 932.4 Delayed Quote.7.54%
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Financials
Sales 2022 15 345 M 21 390 M 21 390 M
Net income 2022 2 221 M 3 096 M 3 096 M
Net Debt 2022 36 666 M 51 109 M 51 109 M
P/E ratio 2022 14,9x
Yield 2022 5,39%
Capitalization 33 072 M 46 032 M 46 100 M
EV / Sales 2022 4,54x
EV / Sales 2023 4,35x
Nbr of Employees 23 683
Free-Float 92,9%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 930,20 GBX
Average target price 1 019,44 GBX
Spread / Average Target 9,59%
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Managers and Directors
NameTitle
John Mark Pettigrew Chief Executive Officer & Executive Director
Andrew Jonathan Agg Chief Financial Officer & Executive Director
Paula Rosput Reynolds Chairman
Adriana Karaboutis Group Chief Information & Digital Officer
Lisa M. Lambert Chief Technology & Innovation Officer
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